Auckland

Wellington

Strategic Finance, which has a moratorium on payments to investors, said its loss widened in the 12 months through June as property values fell, more borrowers defaulted and prior-ranking lenders took action to recover loans over properties subject to SFL mortgages.

Christchurch

PLAN NZ has restructured its business following a strategic review and will introduce a Membership Package Fee for professional mortgage brokers of $400 (plus GST) per month per broker. Brokers retain 100% of upfront and trail commissions.

South Canterbury Finance (SCF), the finance group whose investment-grade credit rating is being supported by its biggest shareholder, would face a severe pruning of related-party lending under the central bank's draft rules for non-bank deposit takers.

Nationwide

Politicians are stepping into the debate over ING’s rescue package for its CDO fund investors, just days before the final deadline looms.

ING investors reach end of timeline; Code Committee due to be announced; Call for Marlin to delist; Slow but steady for insurance industry

BNZ boosts 18-month deposit rates, cuts one-year terms;Fonterra slashes perpetual bond returns in response to record low OCR; RBNZ says competition pushes deposit rates up.

This week's news has, to some degree, reflected the changes going on in adviserland at the moment.